With recent Unemployment figures remaining at 5.8% yesterday and home loans exceeding expectation this morning, you would have expected the Australian Dollar to have made back some of the losses against sterling from the crash in the Chinese stock market 10 days ago.
However this has not been the case. China have also released their latest Money supply and New loans numbers which have come out lower then expected which has had a detrimental impact on Australian Dollar exchange rates once more.
Early next week (Monday evening) China are set to release their latest growth figures. Rumor has it this could be the worse figures we have seen in over 25 years! If this is the case expect the Australian Dollar to lose ground against sterling and all of the major currencies.
If you are buying or selling Australian Dollars this week, month or year I would recommend getting in touch to put a strategy in place to maximise your trade. In order to protect you against market fluctuations we have different contract options available that will meet your needs and requirements. Therefore if you have a currency transfer to make and want to save money on exchange rates compared to using your own bank then contact me directly for a free quote. Dayle Littlejohn [email protected].
If you want further information in regards to a specific currency pair that I have not covered (AUD/USD, AUD/EUR, etc) then feel free to email me with the currency pair and your individual requirement (buying a property abroad, paying a company invoice) and I will personally respond to you with a forecast and the buying process. [email protected] Dayle Littlejohn. Alternatively call 0044 1494 787 478 and ask the reception team to be put through to Dayle Littlejohn.